With intriguing symbolism, the first day of the Bush ascendancy has coincided with the first visit to Cuba by a Russian leader since the collapse of the Soviet Union. Vladimir Putin is a pushy chap. Since succeeding Boris Yeltsin last March, he has been busily challenging America's global hegemony, as seen from Moscow, at every opportunity. He has intervened directly in the US-led Middle East peace process, given succour to Iraq, and resumed arms sales to Iran and Libya. He visited North Korea, that most roguish of US-designated "rogue states", and cheekily claimed to have curbed its menacing missiles. He went to India, bidding to revive Soviet-era ties in direct competition with Bill Clinton's efforts to woo Delhi last spring; and has increased military and political cooperation with China - identified by Mr Bush as a potential 21st-century antagonist. Mr Putin regularly stresses Russia's national interests in the Balkans, its opposition to Nato expansion and its deep dislike of Mr Bush's plans for a treaty-busting national missile defence system. Now here he is in Havana, getting chummy with America's chief bogeyman, Fidel Castro.

Mr Putin's aim is partly new business and investment; partly recovery of old debts. But this geopolitical assertiveness is also a broader expression of his determination to make Russia a force in the world again. Although a distracted Washington has taken its eye off the ball, the challenge this represents to the US president-designate should not be minimised. Mr Putin is six years younger than Mr Bush, tougher and more experienced, and probably a lot smarter.

In some areas, US-Russian interests coincide. Both countries seek to curb international terrorism; an accord was signed in Moscow this week. Both worry about Afghanistan, Pakistan, and Islamic insurgencies in central Asia. Both are pledged to promote bilateral trade; and Russia badly needs US support for further loans and credit to support market reforms. Mr Putin says he wants good relations with the west. Hence his cosy chats with Tony Blair and his pardoning of a US "spy". He has even indicated flexibility on NMD and Nato issues. But there is a darker, scarier side to Mr Putin, as seen in Chechnya. This Putin has a vision of a proud, revived Russia again advancing at home and abroad to the tune of the old Red Army anthem. His vision has power, purpose and coherence. Is poor Dubya ready for this? You tell us.